127 E High St

Wautoma, WI 54982

$99,000C-

2 bd · 1.0 ba · 1,056 sqft · Built 1969 · Other · Active · 133 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $985/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$207
• Net cashflow: $151/mo
• Annual: $1,816/yr
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• 1% rule: 0.99%
• Cash to close: $27,720

Investor read

• This is a 2-bed/1.0-bath other listed at $99k.
• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (0.5% below list).
• It's been on market 133 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#660 in WI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Wautoma Area School District (rural): math 31% / reading 32% proficiency, ranked #265 of 342 in WI (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverview Elementary (math 52% / reading 27%, grade F, #490 of 1,041 statewide, top 53%, 342 students, 60% FRL); Parkside School (math 30% / reading 34%, grade F, #232 of 383 statewide, top 64%, 471 students, 57% FRL); Wautoma High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 375 students, 54% FRL).
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 127 units permitted in Waushara County in 2024 (15 in 5+ unit buildings).
• Waushara County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $25k; list at $99k implies a 296% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.